13th Dec 2019 07:52
(Alliance News) - Gold miner Centamin PLC on Friday announced the appointment of both an interim chief executive and a new deputy chair.
Chief Financial Officer Ross Jerrard has been made interim CEO, following the previously announced departure of Andrew Pardey.
Pardey's departure as CEO was announced at the start of October, though he will stay on as an advisor until a year after that date. Centamin said a shortlist of candidates for permanent CEO has been drawn up, with interviews now ongoing.
Pardey's departure came amid ongoing operational problems at Centamin's only producing mine, Sukari in Egypt. Since then, the company has attracted a hostile merger proposal from Endeavour Mining, which Centamin has rebuffed.
"It is a pleasure to appoint Ross as the interim CEO, giving the company clear leadership during this period of transition. Over the last three years Ross has instilled strong financial and governance discipline and I am looking forward to his skill set being applied to our wider business, alongside our recently strengthened operating team," said Chair Josef El-Raghy.
"On behalf of the board, I wish to thank Andrew once again for his dedication and hard work. We wish him well in all his future endeavours."
Centamin has also picked Jim Rutherford as a non-executive director. He will then become deputy non-executive chair after 2020's annual general meeting, when incumbent Gordon Edward Haslam departs.
Rutherford has over 25 years' experience in investment banking and investment management, Centamin said, specialising in the global mining and metals sector. He was previously senior vice president of a division of US investment manager Capital Group Cos Inc.
He is currently a non-executive director on the board of FTSE 100 miner Anglo American PLC.
"We are delighted to welcome Jim to the Centamin board. His appointment comes after an extensive search, and with his considerable understanding and knowledge of the resource sector obtained during his analytical and fund management and more recent board career, we are delighted that someone of his calibre and experience is joining the board," El-Raghy added.
By George Collard; [email protected]
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